If We Look at the Nominal Versus Real Wage Rates

question 253

Multiple Choice

If we look at the nominal versus real wage rates paid to Presidents over time,we find that

• A)George Washington was paid a higher real wage rate than Bill Clinton.
• B)George W.Bush is the highest paid according to real wage rates.
• C)the real wage rate has steadily increased to $400,000 per year.
• D)the nominal wage has increased and decreased at different times because of inflation.
• E)George W.Bush's nominal wage is about equal to the average nominal wage paid all presidents.

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Definitions:

Skinner

A psychologist and behaviorist well-known for his theory of operant conditioning, emphasizing the influence of external stimuli on behavior.

Plato

An ancient Greek philosopher who made foundational contributions to Western philosophy and science.

Darwin

Charles Darwin, a British naturalist who is best known for his contributions to the science of evolution and the theory of natural selection.

Empirical Approach

A method of inquiry that relies on direct observation, experimentation, and evidence-based understanding to gain knowledge and facts.